Video KYC: Due to the corona epidemic, there has been a lot of change in banking services. With time, most of the arrangements are going online. Because of which there are many such things that you can now do sitting at home. One of them is the system of Video KYC. It was very important for the customer to go to the bank for KYC, but now it can be done sitting at home, that too through video. That means opening an account has become easier than ever. Through this, now you can easily get check book and ATM card easily. Let us know what documents you need to have for video KYC and what will be the complete process?
Here’s the process?
- Your mobile number should be registered for video KYC and should also be active with you. Apart from this, you should have email, PAN card, Aadhar number (which is linked to mobile or e-mail) as well as computer or mobile which has better video and microphone facility.
- First of all you have to give access ie permission to camera, microphone and location.
- After this the bank officials will click on your photograph. After that your PAN card and signature will be verified.
- On successful KYC, your account will be opened automatically.
- After that you deposit some money online or offline. Also, complete the necessary process for checkbook or ATM also.
When is KYC
Banks usually ask low risk customers to update KYC every ten years. At the same time, customers with medium risk have to get KYC updated every eight years. Whereas high risk customers have to update KYC every two years. This category is decided on the basis of value and transaction.